A type of express trust or inter vivos trust.
a trust created during the grantor's lifetime that the grantor may alter, amend, or revoke; the trust may become irrevocable or terminate at the grantor's death
A revocable living trust allows you to transfer ownership of your property to a separate entity called a trust which is managed according to the rules you establish in the trust document for the benefit of the beneficiaries named in the trust.
A trust in which the grantor reserves the right to revoke it and to regain control of the trust property.
a legal agreement under which you transfer assets to the trust to be managed by a trustee for the benefit of one or more people, generally you and your spouse
a legal arrangement by which an individual shifts ownership of property (such as securities, a home, real estate, bank accounts, certificate of deposits, stocks, bonds, life insurance) from personal ownership into the legal ownership of the trust
a legal arrangement by which legal title to property is transferred from personal ownership into the legal ownership of the trust
a legal document that allows you to set up ownership of potentially all of your property in your own trust usually with you and/or your spouse as initial trustees
a mechanism whereby you might transfer your property and other investments to a trust where they will be held for your benefit during your lifetime but they will not be yours in an outright sense
a method of avoiding probate
an arrangement in which the grantor places property in trust, naming him or herself or some other person as Trustee, or Co-Trustee, but not reserving the right to revoke the trust so that the property can be returned to the grantor
an entity to which a grantor voluntarily transfers title to his or her assets, but with a string attached
an estate planning device designed to avoid probate
an estate planning device that allows you to substantially avoid probate by placing your property in the trust while allowing you to control that property during your lifetime and designate where that property shall go on your demise
a popular probate-avoidance device
a probate savings device
a trust created during the grantor's lifetime providing both lifetime and death benefits
a trust created during your lifetime to hold property that you transfer to it
a trust entity created by a competent person (the "grantor"), during his or her lifetime, which may be amended or revoked by the grantor at any time
a trust instrument that may be changed during the lifetime of its grantor, the person who sets up the trust
a trust that can be changed or terminated by you during your lifetime
a trust that can be revoked or canceled at any time by the
a useful vehicle for allowing the grantor to retain control of his or her assets while competent, yet provide for management of such assets by the successor or alternate trustee in the event of the grantor's incapacity
a valuable part of your estate plan that avoids
a vehicle that is very helpful in avoiding probate
a written agreement in which you, as the person creating the trust (also called "the settlor" or "the grantor"), appoint a person or a bank or a trust company as the trustee
a written document that is established with you as the grantor of the trust and usually with you as the trustee of the trust as well
a written instrument created during the lifetime of the Grantor (the person establishing the trust) and is effective during the lifetime of the Grantor with respect to the assets which are placed into the trust
A flexible agreement whereby you transfer and manage property in a trust, (this is not a charitable remainder trust). Whatever remains in the trust ultimately passes to the beneficiaries of the trust as stated in the trust document. Charitable bequests may be planned in a living trust. Go to Top
A written legal document into which grantors place all their property with instructions for its management and distribution on their disability or death.
A trust which may be revoked by the trustor.
A trust created during the maker's lifetime that can be changed. Allows the creator to pass assets on to chosen beneficiaries without going through probate.
a flexible agreement where a donor transfers income-producing property to a trustee and receives income for a specified period. The remainder in the trust at the donor's death is the asset of the charity.
a living trust or inter vivos trust that can be amended and revoked, usually by the person who established the trust. This trust may become irrevocable and unamendable when the only person who can amend or revoke the trust dies or becomes incompetent.
A device that describes certain property, names a trustee (who manages the property) and names a beneficiary who receives benefit from the trust. A living trust is an effective means of avoiding probate and providing for management of assets. It can be revoked by the person who created it during that person's lifetime.
A trust established by an individual, or a married couple, that becomes effective immediately upon establishment while the Trustor is still alive (thus "Living"), remains revocable and amendable during the lifetime of the Trustor (thus "Revocable"), and is used to (1) avoid probate; (2) facililtate some tax planning; (3) provide for management during periods of incapacity without need for guardianship or conservatorship; (4) address family circumstances; and (5) provide for ultimate distribution of the estate.
A trust established by the grantor during his lifetime. A revocable living trust can be amended (changed), or revoked (canceled) at any time during the grantor's lifetime. Sometimes called an inter vivos (Latin for "while living") trust, also interchangeable with "revocable trust" and "living trust."
A trust created during the grantor's lifetime that can be revoked or modified.
A trust that can be rescinded, canceled, or repealed by the creator or grantor of the trust. Specified instructions are also included for the successor trustee in case the grantors are unable to perform their duties.